Paytm shares rally over 5% as brokerages raise target price on Zomato deal

Shares of One 97 Communications (Paytm) surged 5.5% to Rs 604.45 on the BSE after brokerages raised their target prices following the sale of its entertainment business to Zomato. CLSA upgraded its target to Rs 530, while Citi increased its target to Rs 440, keeping a "Sell" rating.